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Ports Laying Groundwork For Post-Coronavirus Business

Ports around the globe will have to change the way they do business in a post-pandemic world.

Port officials already are changing the way they interact. The World Ports Conference was to have taken place in March in Antwerp, Belgium, but the spread of the coronavirus foiled that plan. So on Wednesday, industry thought leaders conducted the first in a series of webinars, this one titled “Business as Usual: Adapting Port Business Models to Survive and Thrive in the Post-COVID-19 Era.”

Port of Los Angeles Executive Director Gene Seroka said the Western Hemisphere’s largest seaport has suffered “two horrible shocks to the supply chain. One were the ill-advised trade policies out of Washington and second COVID-19. The knock-on effects of both will be felt for the rest of this year and into 2021. We simply don’t have the demand in our economy today to support any notion of recovery in

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WA Releases Phase 2 Rules For In-Store Retailers, Manufacturers

WASHINGTON — As Washington enters Phase 2 of Gov. Inslee’s plan to reopen the economy, a number of businesses will be allowed to resume operations: taverns and bars, restaurants, big box stores, department stores, boutiques, retailers and manufacturers.

But how those businesses are run will have changed. The state has already released rules for restaurants and taverns. Tuesday night, the Governor’s office followed up with new regulations for in-store retail and manufacturers.

Guidelines for in-store retail

The new retail guidelines apply to reopening big box stores, department stores, sporting good stores, boutiques, and any other physical location where goods are “exchanged with the general public”. The rules also apply stores that have remained open during the outbreak like groceries, supermarkets, as well as home improvement, pet and auto supply stores.

Under the new requirements, stores must:

  • Limit the number of shoppers to less than 30 percent the normal maximum

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4 Retails Stocks Likely to Top Estimates This Earnings Season

Though the earnings season has reached its tail end, the main chunk of releases from the Retail-Wholesale sector is yet to come. This time the season has been quite different for retailers. The space has been hit hard by the coronavirus-induced stay-at-home orders, social distancing and some mandatory store closures. As a result, U.S. retail sales witnessed a record decline for the second consecutive month in April. Per the Commerce Department retail sales in April fell 16.4%, following a decline of 8.3% in March.

Per the latest Zacks Earnings Preview report, the sector is anticipated to witness top-line growth of 5% this earnings season, down from an improvement of 7.2% in the last reporting cycle. Again, the bottom line is expected to plunge 21%, following an increase of one percentage point in the preceding season.

Here’s How the Quarter Shaped Up

The quarter that commenced on an upbeat note took

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Stimulus checks may be yanking the economy out of the next Great Depression

Newly sent out stimulus checks from lawmakers may be having their desired effects: boost consumer spending — which makes up about 70% of the U.S. economy — and yank the U.S. economy out of a severe recession this summer.

“As the [first] quarter progressed, we saw a second phase related to entertaining and educating at home. Puzzles and video games took off. Parents became teachers. Adult bicycles started selling out, as parents started to join the kids. An overlapping trend then started emerging related to DIY and home-related activities. Think games, home office, exercise equipment and the like. It was also clear, a lot of people were taking a do-it-yourself approach as they bought items like bandanas and sewing machines to make masks,” explained Walmart CEO Doug McMillon on his company’s first quarter earnings call on Tuesday.

Read more: Coronavirus stimulus checks: Why your payment would be smaller than

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